circumstances. and many are underemployed, even after receiving their degree. many never even received their degree. so the fact that we re saving them from going into default, it s going to allow them to hopefully go forward and take out mortgage loans and car loans and reinvest back in the economy. that s the other thing. if we cancel student loan debt outright, people will feel more confident on starting families, on investing in the market or starting their own businesses and it would really inject capital into the economy, which is what we need now at this time. on the other hand, we need to make sure we hold corporations accountable for price gouging pb because what we ve seen here is when money sin injected into the economy, corporations take advantage and price gouge. and that is something we still have to deal with, and we have a bill, the emergency price stabilization act to deal with that particular issue.
not sustainable, and i want to point out this wage spiral is a fallacy. it is common sense. we just cannot be driving it is common sense. we just cannot be driving inflation if wages are falling be driving inflation if wages are falling. the thing that is driving inflation falling. the thing that is driving inflation is price gouging, record profiteering at the hands of big corporations, including the energy companies, who are using the crisis to price companies, who are using the crisis to price gouge, exploit and feed their to price gouge, exploit and feed their own to price gouge, exploit and feed their own coffers at the expense of their own coffers at the expense of the rest their own coffers at the expense of the rest of their own coffers at the expense of the rest of us. the their own coffers at the expense of the rest of us the rest of us. the guardian, rachel, truss the rest of us. the guardian, rachel, truss condemned . the rest of us. the guardian, - rachel
gouge american families and i think that puts in relief the competing values between these events and that is a debate that we are happy to have any day. we just mentioned the soaring inflation, and part of that of course fuel prices. and now it is noted gas prices have gone down now for nearly a month. of that, of course, fuel prices. as noted, gas prices have gone down for nearly a month, but the need for more oil is part of the president s agenda in the middle east. he s heading to israel now, heads to saudi arabia tomorrow. of course, we know this, he has called saudi arabia a pariah state. the u.s. government believes the crown prince was behind the death of washington post columnist jamal khashoggi. is it worth it for a president who speaks often about human rights, having the moral high ground, is it worth it to meet with the crown prince of saudi arabia? i m glad you bring that up, jonathan. if you look back to the beginning of this administration, the president immediate
domestic priority right now. he knows the pains that americans are feeling because of it, but the big question, of course, is what president biden is going to do about it. that s where the challenge comes in for the white house. the president today leaning on the federal reserve, saying he does agree with them that inflation is the number one economic priority here in the united states. and you ve seen interest rates on the rise, potentially more of those rises to come in the coming months. when it comes to what president biden is going to do, he talked about the federal reserve s actions and his domestic agenda which we should note is stalled right now on capitol hill. and he also talked about telling companies not to price gouge, but there are still big questions about other steps he could take that he has not taken so far. you did hear him at the end of the remarks say that they are discussing whether to remove the trump era tariffs on chinese goods. that is something that experts h